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Reports that European Union leaders had agreed on a plan to resolve the ongoing debt crisis sweeping through the region sent global markets surging during the second half of last week. With the start of November upon us, it will be interesting to see if moods can remain lifted.

FEZ and the
iShares MSCI EMU Index Fund(EZU) are two products investors can turn to in order to follow the action taking place within the euro-bloc.

While exciting to watch, I encourage conservative investors to monitor these and other Europe-linked ETFs from the sidelines. Gut reactions to the region's "big bazooka" deal have been promising. However, until we see some solid improvements in this region, these nations will likely remain volatile.

The media industry will be a major focus for earnings watchers this week with names such as
News Corp(NWSA),
Time Warner(TWX) and
Comcast(CMCSA) among those slated to step up to the plate. PBS allows investors to gain ample access to this market corner.

In total, seven of the fund's top 10 positions are scheduled to report quarterly earnings over the course of the week. Together, the companies account for nearly one-third of PBS' total assets.

The Israel ETF has enjoyed some impressive strength over the past few weeks as easing market fears have reignited investor appetite for foreign assets. Since the start of October, shares of EIS have climbed nearly every trading day. This persistent rally has helped the fund regain all of its September losses and ascend to levels last seen at the start of August.

Over the next few days, investors with exposure to this fund will want to keep a close watch as its largest holding,
Teva Pharmaceuticals(TEVA), prepares to release its quarterly earnings numbers. Teva's action weighs heavily on EIS performance. The company represents close to a quarter of the fund's underlying index.